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20121222
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on your screen now! david: joining the company now from chicago is larry levin with trading advantage. larry, we hear a lot of theoretical talk, political talk about the fiscal cliff, let's get real specific. we actually have a chart of how much you're paying in taxes now on the left and this is how much extra you would pay if you go off the fiscal cliff. so look at that, if you're 50,000, you pay about 1200 bucks more. 100,000, $3600 more. how specific -- that's how it would affect individual income tax. how would it affect the economy and specifically the commodity trading that you do? >> well, it's for the stock indexes that i trade, the s&p and dow jones those markets i think will take a very large hit. in fact a good example of that would be what we saw about week and a half ago when we saw the republicans come in with the vote and then tend up not taking the vote at all. we saw the s&ps lose about 30 handles overnight, got a lot of that back because everybody thought they would go back and talk again. that's a really good example, a little bit of foreshadowing if you will of wha
to that? there was a bill introduced by the ways and means committee in the house, sandy levin that called for this legislation. the speaker was going to bring it up to kill it but he kobt kill it and then we moved to plan b, the debacle of all debacles. it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republicans it was so absurd. he meaning the speaker. so it's very clear now, mr. president, that the speaker's number one goal is to get elected speaker on january 3rd. the house is not even here. he's told me he'll give them two days to get back here, 48 hours, not two days, 48 hours. they don't even have enough of the leadership here to meet to talk about it. they've done it with conference calls. people are spread all over this country because the speaker is basically waiting for january 3rd. now, the president campaigned on raising taxes on people making more than $250 thou,000 a year. the bush tax cut will expire at the end of this year. obama was elected with a surplus of about three million votes. he won the el
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